'A budget that harms everyone except the rich.'

For fellow Brits, or those just interested: here is a deep dive into the economic consequences of the Conservative tax cuts from Oxford economist Simon Wren-Lewis. The TLDR is that the new budget won't produce a growth boom and therefore won't offset either the inflation (cost of living) crisis or the devaluation of the pound. Wren-Lewis also predicts that this will inevitably lead to further cuts in our already teetering public services.

This is grim reading. I want this to be wrong but I know that it's not:

https://mainlymacro.blogspot.com/2022/09/a-budget-that-harms-everyone-except.html

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whowasthatmaskedman · 70-79, M

I get the why of this..(which doesnt make it right) Brexit was supposed to offer a lot of already very rich people in "The City" a chance to do a lot of trade and finance deals, buying and selling licences and agreements to "smooth the path" of trade. But along came Covid and killed trade and business. So this budget is the consolation prize for all those people to get tax breaks .. And it sucks..So what are you going to do about it Britain???😷

Burnley123 · 41-45, M

@whowasthatmaskedman Its worse than you think. Read the article I linked for more.

whowasthatmaskedman · 70-79, M

@Burnley123 I get that this budget is awful and the selling of it is the worst thing since "New Labor" Its money they dont have going to places its not needed while those in need suffer and are expected to pay for it later. Its the cows that get milked and the sheep that get shorn. The farmer is the only one who profits..😷